Royal Bank Of Canada Trims Novelion Therapeutics Inc. (NVLN) Target Price to $8.00
Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) had its target price cut by research analysts at Royal Bank Of Canada from $9.00 to $8.00 in a report released on Friday. The firm presently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 81.41% from the company’s current price.
Separately, ValuEngine cut shares of Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 12th.
Shares of Novelion Therapeutics (NVLN) remained flat at $$4.41 on Friday. 33,588 shares of the company’s stock were exchanged, compared to its average volume of 82,238. Novelion Therapeutics has a 12 month low of $4.19 and a 12 month high of $13.80. The company has a quick ratio of 1.15, a current ratio of 1.38 and a debt-to-equity ratio of 2.77.
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Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in shares of Novelion Therapeutics by 4.2% in the second quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 511 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Novelion Therapeutics by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 112,902 shares of the biotechnology company’s stock worth $1,213,000 after purchasing an additional 1,889 shares in the last quarter. JW Asset Management LLC raised its holdings in Novelion Therapeutics by 1.8% during the second quarter. JW Asset Management LLC now owns 315,980 shares of the biotechnology company’s stock worth $2,916,000 after purchasing an additional 5,681 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Novelion Therapeutics by 167.2% during the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 6,440 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in Novelion Therapeutics during the second quarter worth about $102,000. 78.48% of the stock is owned by institutional investors and hedge funds.
About Novelion Therapeutics
Novelion Therapeutics Inc, formerly QLT Inc, is a Canada-based biopharmaceutical company. The Company is engaged in development of new standards of care for individuals living with rare diseases. The Company is focused on advancing its portfolio of rare disease therapies by investing in science and clinical development.
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